Fund Returner
An investment whose proceeds alone repay the whole fund. For a $100m fund holding 10% of a company at exit, the company must sell for $1bn. The arithmetic is the reason a fund asks "can this be a fund returner" before it asks anything else, and why a business that can plausibly reach $100m of value is a fine company and a poor venture investment.
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Browse the full glossary — 263 finance recruiting and technical terms, in plain English.